Our Urgent Market Update reviews important real-time market developments and their impact on high-probability trading opportunities. Today, we highlight nervy markets as US debt default X-date approaches but what next is the question we need to ask ourselves.

Janet Yellen US Treasury Secretary has stated that 1st June is an X-date of sorts although this is heavily contested. Either way, a compromise will need to be found ideally. We think a resolution will be found but can politicians really be trusted fully? That remains to be seen. If a resolution is found we would expect US Indices to pop higher and USD to start weakening again. The opposite would be relevant if no deal can be made.

Once the debt ceiling debacle is concluded all eyes will swiftly move to the FED and interest rate decisions. As the FED have mentioned on many occasions they are data dependent so upcoming inflation and job numbers will begin to take centre stage as traders and investors try to work out what the FED will do next. Nevertheless, expect these markets to wake up over the next 2-3 weeks and awaken from their 8-week snooze.

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